The Legal Russian Crypto Market Will Become a 'Market of Tainted Cryptocurrency' – 'Finam'
A legal Russian cryptocurrency market could become a "market for tainted crypto," according to Dmitry Kochetkov, an investment expert at Finam. He explains that digital assets passing through addresses or platforms under international sanctions are considered toxic by foreign counterparties, carrying high compliance risks. Consequently, these assets may trade at a significant discount compared to global benchmarks.
Kochetkov warns this could lead to the formation of a separate, isolated pricing circuit for Russia, operating autonomously with its own rules and pricing mechanisms, rather than just a loss of liquidity.
Previously, Bank of Russia Governor Elvira Nabiullina stated the central bank is cautiously exploring the use of stablecoins for international settlements, but only as a supplement to the digital ruble, and highlighted crypto's susceptibility to sanctions.
Starting September 1, licensed intermediaries in Russia will be allowed to trade cryptocurrencies, with the central bank initially permitting only Bitcoin, Ether, and the USDT stablecoin.
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